Falkirk house sales: 3.7% rise in prices as region out-performs UK
House prices increased by 3.7% in Falkirk in May, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 7.1% annual growth.
The average house price in May was £140,847, Land Registry figures show – a 3.7% increase on April.
Over the month, the picture was less good than that across Scotland where prices increased 5.4%, but Falkirk outperformed the 0.9% rise for the UK as a whole.
Over the last year, the average sale price of property locally rose by £9,300 – putting the area 24th among Scotland’s 32 local authorities for annual growth.
Owners of terraced houses saw the biggest improvement in property prices – up 2.8%, to £123,951 on average.
Over the last year, prices rose by 13.4%.
Owners of terraced houses saw the biggest improvement in property prices in May – up 3.9%, to £116,120 on average. Over the last year, prices rose by 8.7%.
Among other types of property:
Detached: up 3.4% monthly; up 8.1% annually; £262,791 average
Semi-detached: up 3.7% monthly; up 7.3% annually; £153,243 average
Flats: up 3.8% monthly; up 4.7% annually; £80,699 average
First steps on the property ladder:
First-time buyers in Falkirk spent an average of £116,300 – £7,300 more than a year ago, and £24,200 up on May 2016.
By comparison, former owner-occupiers paid £167,800 on average – 44.3% more than first-time buyers.
Buyers paid 17.8% less than the average price in Scotland (£171,000) in May for a property here.
Properties in Edinburgh were £300,000 on average - 2.1 times as much as in Falkirk.